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Senate Proceeding 04-08-08 on Apr 8th, 2008 :: 3:07:14 to 3:13:43
Total video length: 4 hours 19 minutes Stream Tools: Stream Overview | Edit Time

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Previous speech:

Jim Bunning

3:07:14 to 3:07:22( Edit History Discussion )

Jim Bunning: ~ quorum call: mr. bennett: challenger line mr. bunning: i ask unanimous consent the call of the quorum be suspended. the presidg officer:

Jim Bunning

3:07:14 to 3:13:43( Edit History Discussion )
Speech By: Jim Bunning

Jim Bunning

3:07:22 to 3:07:41( Edit History Discussion )

Jim Bunning: without objection, so ordered. mr. bunning: what i. s the pending busi ness before the senate? the presiding officer: the pending business is the sanders' amendment. mr. bunning: i ask unanimous

Jim Bunning

3:07:41 to 3:08:01( Edit History Discussion )

Jim Bunning: consentns that the amendment be set aside so that i may speak on the bill itself for 15 minutes. the presiding officer: the senator may speak on the bill without setting aside the amendment. mr. bunning:

Jim Bunning

3:08:01 to 3:08:23( Edit History Discussion )

Jim Bunning: thank you very much, mr. president. thank you, mr. president. this is an unusually bad bill and i have opposed it from the very start. the course it has followed almost guarantees that it will be filled

Jim Bunning

3:08:23 to 3:08:39( Edit History Discussion )

Jim Bunning: with the worst kind of gimmickry. and it is. the senate may be the most deliberative body in the world but this bill is anything but the product of deliberation. it is a jumble of disjointed ideas

Jim Bunning

3:08:39 to 3:09:00( Edit History Discussion )

Jim Bunning: unlikely to self the crisis at hand -- to solve the crisis a t hand and it is unpopular. it turns out that the american people don't like the idea of bailing o ut banks and their neighbors who gambled

Jim Bunning

3:09:00 to 3:09:19( Edit History Discussion )

Jim Bunning: on home prices. the majorities understand what is going on in washington better than we do. what is more, several of the complicated tax provisions in this bill never benefited from a full review by the

Jim Bunning

3:09:19 to 3:09:40( Edit History Discussion )

Jim Bunning: senate finance committee. normally, this is a critical part of the senate'se' deliberation. one example of a provision that could use more review is the new deduction for stateor property taxes. while

Jim Bunning

3:09:40 to 3:09:57( Edit History Discussion )

Jim Bunning: it may be well intended, this new provision will complicate life for millions of american homeowners who will have to calculate their taxes twice to find out which method results a lower tax. this

Jim Bunning

3:09:57 to 3:10:17( Edit History Discussion )

Jim Bunning: complicated tax filings and any senator who has said the tax code is too complicated should be ashamed to vote for this. because the senate has not had any serious review of this provision, you also

Jim Bunning

3:10:17 to 3:10:39( Edit History Discussion )

Jim Bunning: may not know that this provision also allocates more of the nation's tax burdens to residents of states that impose an income tax such as kentucky. the state with the highest income taxes faces the biggest

Jim Bunning

3:10:39 to 3:10:59( Edit History Discussion )

Jim Bunning: relative tax increase and this is illustrated in the chart that supports -- that supporters of this provision hastily distributed to us. for example, the chart shows that 59% of the texan homeowners

Jim Bunning

3:10:59 to 3:11:11( Edit History Discussion )

Jim Bunning: have homeownership but only 23% of marylanders benefit. the chairman of the senate finance committee on which i serve is not even managing this bill. even though tax provisions is account for about two-thirds

Jim Bunning

3:11:11 to 3:11:34( Edit History Discussion )

Jim Bunning: of its cost. it's kind of hard to explain to teletext the average senatorn the finance committee. another provision that deserves far more

Jim Bunning

3:11:34 to 3:11:51( Edit History Discussion )

Jim Bunning: scrutiny is the $4 billion in community development block grants that will be allocated to the states and local government to buy foreclosed properties.pe to begin with, this current program is

Jim Bunning

3:11:51 to 3:12:13( Edit History Discussion )

Jim Bunning: currently very poorly managed. "the wall street journal" called it "among the worst run programs in washington and there is a lot of competition if that title." the white house called the program

Jim Bunning

3:12:13 to 3:12:35( Edit History Discussion )

Jim Bunning: "ineffective" just two months ago. and when the h.u.d. inspector general testified before congress in 2006, he explained that his agency had recently indicted 1 individuals and recovered $120 million

Jim Bunning

3:12:35 to 3:12:56( Edit History Discussion )

Jim Bunning: of misappropriated funds. g.a.o. also has criticized the targeting of grant recipients which is a polite wayol of saying that the money is going to those with political connections and influence if local

Jim Bunning

3:12:56 to 3:13:18( Edit History Discussion )

Jim Bunning: influence in local governments. adding money it this program is risky at best. let's have no illusions. this extraordinary unwise grant of taxpayers' money is really just a bailout for banks in

Jim Bunning

3:13:18 to 3:13:43( Edit History Discussion )

Jim Bunning: disguise. it guess to states but the ultimate beneficiary will be banks that made risky loans. instead of selling foreclosed properties on the open markets, these banks will have the luxury of selling

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